Spain Unemployment Falls Below 2.3 Mln

MADRID (dpa-AFX) - Spain's unemployment fell below 2.3 million in June for the first time since early 2008, the labor ministry reported Thursday.The number of unemployed fell 28,739 from the previous month to reach 2.29 million in June. It had not fallen below 2.3 million since January 2008, the mi…

MADRID (dpa-AFX) - Spain's unemployment fell below 2.3 million in June for the first time since early 2008, the labor ministry reported Thursday.

The number of unemployed fell 28,739 from the previous month to reach 2.29 million in June. It had not fallen below 2.3 million since January 2008, the ministry said.

Economists had forecast a monthly decrease of 40,800 in June.

Unemployment declined across all economic sectors in June. The service sector reported the largest decrease with 28,498 fewer unemployed workers, while industry recorded a decrease of 2,829.

Construction and agriculture sectors experienced smaller reductions, declining by 1,326 and 384 unemployed workers respectively.

Further, data showed that unemployment among young people aged below 25 decreased 5,155 compared to May. Youth unemployment totaled 159,800, the lowest in the historical series.